Silver- and gold-based brazing materials: Key market research findings
- Increase in demand from emerging economies
- Advantages of brazing over other joining processes
Technavio has released a new market research report on the global silver- and gold-based brazing materials market, which is expected to grow at a CAGR of 3% between 2916 and 2020. The demand for silver- and gold-based brazing materials is increasing in heating, ventilation, air-conditioning, and refrigeration (HVAC&R), medical, and aerospace sectors. Silver-based brazing materials dominated the market due to their broad application and superior performance. APAC is the fastest growing region in the silver- and gold-based brazing materials market, owing to an increase in the demand from HVAC&R and electrical and electronics segments that are growing rapidly.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The demand for silver- and gold-based brazing materials is rising from emerging markets such as India. Economic development in these countries has contributed to the growth of several macroeconomic factors, which have consequently increased the demand for brazing applications. For instance, the demand for silver- and gold-based brazing materials from truck and railroad bogies manufacturing, power, HVAC&R, and aerospace industries is increasing, and this is expected to contribute to the market growth,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research
Brazing has several advantages over conventional metal-joining procedures such as welding and soldering. Metals are not melted in this process, hence the shape of the base metal is not distorted. Brazed joints are uniform and do not require secondary finishing and can be used to join metals with different properties. Brazing can also be used to join metals with non-metals such as porcelain. Moreover, the Mmanufacturers are adopting brazing materials that are safe, cost-effective, and offer superior brazing when compared with conventional alloys.
The key vendors in the global silver- and gold-based brazing materials market include Lucas-Milhaupt, Johnson Matthey and Morgan Advanced Materials. This market is fragmented, and most vendors provide silver-based brazing materials. Regional players face tough competition from the global vendors in terms of innovations in products and costs. Moreover, these key players are expected to enhance their reach to emerging markets during the forecast period. Huge capital investments and technical expertise of existing players restrict the entry of new vendors into the market.
A more detailed analysis is available in the Technavio report, Global Silver and Gold-based Brazing Materials Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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